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Akorn reports positive results with ocular anesthetic; moves to Nasdaq

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BUFFALO GROVE, Ill. — A novel ocular anesthetic showed statistically significant efficacy and duration in a phase 3 trial, according to press release from Akorn, the drug's manufacturer.

The drug, called Akten, is the company's first internally developed ethical drug product. A generic name for the drug was not given in the press release.

Based on the positive phase 3 results, Akorn plans to file a new drug application with the U.S. Food and Drug Administration for Akten in the second quarter of this year, company officials said in the release.

The company also announced the approval of its listing application for the Nasdaq global market. The company expects to begin trading under the new symbol AKRX on or about February 7. Akorn is currently traded on the American Stock Exchange.